Beyoncé To Launch Her Own Record Label and Create Boy Band

The 30-year old pop music legend-in-waiting has been in performing artist mode ever since she was nine. Now after selling over 75 million records worldwide on her own and with girl band Destiny's Child, Beyoncé has her sights set on nurturing new artists.

The 'Run The World (Girls)' singer told The Associated Press that she plans to start up her own record label and pass on her music industry knowledge to young stars like her male counterpart Usher did with Justin Bieber.

"I am starting my own company, my label. I want to create a boy band," she said.

"I see so many male artists building these empires and passing their knowledge on to other artists and development. I see myself doing the same thing and hopefully other younger artists when they grow up and they have been around for 15, 20 years, they can do the same thing."

Beyoncé, who publicly announced her pregnancy at last month's MTV Video Music Awards, recently appeared as a guest mentor on X Factor Australia. The Grammy-winning diva reviewed the performances of six under 25 male hopefuls in Guy Sebastian's category and imparted some words of advice.

Watch Beyoncé's appearance on X Factor Australia here:

Beyoncé's latest "4" album has to date produced three US Top 30 singles: 'Run The World (Girls)' (#29), 'Best Thing I Never Had' (#16) and 'Love on Top' (which shot up to #20 after her VMA performance). Other charting tracks include '1+1', the urban radio single 'Party' (featuring André 3000), 'Countdown' and 'End of Time'.

'Love on Top' became the most added new song to Australian radios last week, managing to peak on the ARIA chart at #32. The song has to date peaked at #14 in New Zealand and #75 in the UK.